IMAX Corp. (IMAX) Inks Deal for Two Theaters in Taiwan
- Wall Street rallies, snaps longest weekly losing streak in decades
- 'Always Bet on Michael': Dell (DELL) Stock Soars After Crushing Estimates, Analysts Say Results are Impressive
- Credit Suisse Says Tesla (TSLA) Stock Offers an Attractive Entry Point, Sees Nearly 60% Upside From Here
- Citi Downgrades US Equities to Neutral on Recession Risk
- Elon Musk Says Recession Could Last 12 to 18 Months, But 'Actually a Good Thing'
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
IMAX Corporation (NYSE: IMAX), IMAX China Holding Inc., and IN89 Digital Cinemax Co. Ltd. (IN89), a leading exhibitor in Taiwan, announced an agreement for two IMAX theatres. Both theatres will be added to new construction projects located in the Ji'an Township of the Hualien county and in the city of Jiayi. The agreement brings to 15 the total number of IMAX theatres in Taiwan.
"We believe IMAX's world-renowned cinema technology coupled with its film slate of the biggest Chinese and Hollywood blockbusters will support our expansion efforts and help increase our market share," said Mr. Ben Cai, CEO of IN89 Digital Cinemax Co. Ltd. "With IMAX, we are delivering the best entertainment experience possible to our guests and we look forward to launching an exciting new chapter of immersive movie-going for audiences in Hualien and Jiaiyi."
"We are delighted to welcome IN89 as our newest Asia Pacific partner and together look forward to seizing the growth opportunities that exist in Taiwan, where our per screen average (PSA) of over $1.6 million significantly surpasses our global PSA of $1.1 million," said Richard L. Gelfond, CEO IMAX. "Exhibitors worldwide recognize that IMAX delivers an event-based experience for tentpole films like nothing else can. Given this and the enthusiasm among exhibitors around our 2016 and 2017 film slates, our theater deal activity continues to be robust."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Rosenblatt Starts IMAX Corporation (IMAX) at Buy
- Clover Health Investments (CLOV) Announces Resignation of Nathaniel S. Turner from Board
- Southwest Gas (SWX) Chief Financial Officer Gregory J. Peterson to Retire
Create E-mail Alert Related CategoriesCorporate News, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!